DAX July to Aug Ratio Rollover Table 16th July 2018
The party has still not got going in the DAX and they are now fast running out of time.
In fact, since our last comment, (11th July) this index has been an exciting mover, but at the end of the day it has hardly strayed far from its zone.
However, activity has held up so there is evidently still plenty of expectation.
On the more basic level the zone has not moved, so good it has held on to the recovery we saw, but not so inspiring that it hasn’t made further progress.
All the more so in the context that it has so much Y ratio still around, so its should be easy for the market to move as it would the zone.
However, for us, the big risk remains the US and how they are going to react now they are all hitting levels of ratio generated resistance.
Range: 12450 to 12550
We appreciate we say this every time but please remember the DAX is a slow starter.
However, having just said that, then also please remember this is an intermediary to intermediary rollover, one of just 4 a year, so it will be thin by the very nature of it.
Nevertheless, please note where the zone is, and the fact that below it the ratio only gets as high as R1, so all in all August could be a veritable rollercoaster.
Range: 12350 to 12800